Zimbabwe's cotton output has declined despite an installed ginnery capacity of 427,000 tonnes of seed cotton.
The decline in cotton production has also left Cottco, a major player in the textile industry, with about 35 per cent market share, on the verge of collapse. A number of other private players have also exited the cotton market.
Chinamasa said inaction on the part of Government can only lead to total collapse of cotton production, with dire consequences across the textile industries' value chain.
In order to reverse decline in cotton farming, the Government is trying to revive cotton production through a restructured Cottco.
The measures that Government is introducing include a Government takeover of $52,7 million Cottco debt and conversion into equity; cost restructuring; resourcing the Cotton Input Financing Scheme in support of the 2015-16 season and registration of farmers.
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